The fear of running out of money is so primal and human. A survival mindset is great for emergencies, but in the long run it can hold you back.
Financial advisors play a really valuable role in helping you to understand your financial position, create a financial plan and then to make the best of what you have. However, choosing an advisor that’s right for you, is not always straightforward.
In his poem “The Prophet”, Khalil Gibran unpacks the many facets of giving, layer by layer. "You give but little when you give of your possessions.”
It may be stating the obvious, but numbers are the dominant language of money. If our relationship with numbers is strained, financial decision-making is more difficult.
It might surprise you to know how commonplace it is for people to struggle with asking for money. It can be emotionally charged… with feelings of shame, fear of rejection, panic and inadequacy.
I come across many people who struggle with pricing and asking for money. For professionals, the self-employed, or those working in the caring and creative sectors, the personal nature of what they offer can lead to confusion about self-worth.
In our haste to take on new business, an area that is often overlooked is what it will cost us to service it, in terms of time and energy.
Peace and prosperity are, I think, what most people want in some shape or form. Often, one comes at the expense of the other. So how can we get the balance right?
In the first part of a series of articles, I explain how accountants in practice can optimise their income, but they must make tough decisions.
In the second part of this series of articles for ICAEW, I explain how accountants in business can optimise their income.